3/22/2023

7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

Adjusting Journal Entries JE # 1

TO RECLASSIFY BALANCES

1710952000 PREPAID MAINTENANCE EQUIPMENT 1,220.55

5195300100 OFFICE SUPPLIES 284.54
5195300100 OFFICE SUPPLIES 1,395.61
1710200100 STATIONARY AND OFFICE SUPPLIES 284.54
1710600100 STAFFING AND LABOR SUPPLY 1,395.61
7345150100 MACHINERY AND EQUIPMENT 1,220.55
Total 2,900.70 2,900.70

Adjusting Journal Entries JE # 2

TO ADJUST SALES TAX PAYABLE FOR PA

2408050505 SALES TAX PAYABLE-PENSILVANIA 6% 94.44

4120350151 TICKETS ROLLS 94.44
Total 94.44 94.44

Adjusting Journal Entries JE # 3

TO REVERSE DECEMBER 2021 ACCRUED INTREST FOR HSBC
BANK USA, N.A.
2605950952 ACCRUED EXPENSES 4,100.00
2605950952 ACCRUED EXPENSES 7,533.46
2335050100 FINANCIAL INTEREST EXPENSE 7,533.46
5305050151 BANK CHARGES 4,100.00
Total 11,633.46 11,633.46

Adjusting Journal Entries JE # 4

TO REVERSE JE #10 (2021)

7395300100 OFFICE SUPPLIES 26.60

7395300100 OFFICE SUPPLIES 50.00
1110056000 HSBC OPERATING RMF 764321986 26.60
1110056000 HSBC OPERATING RMF 764321986 50.00
Total 76.60 76.60

Adjusting Journal Entries JE # 5

TO REVERSE JE #43 (2021)

1110056000 HSBC OPERATING RMF 764321986 432.41

1110056000 HSBC OPERATING RMF 764321986 3,066.16
2105100200 LONG TERM DEBT 3,066.16
5305200104 DEBT INTEREST EXPENSE 432.41
Total 3,498.57 3,498.57

Adjusting Journal Entries JE # 6

TO REVERSE JE #44

1110056000 HSBC OPERATING RMF 764321986 1,743.16

5305200104 DEBT INTEREST EXPENSE 1,743.16
Total 1,743.16 1,743.16

Adjusting Journal Entries JE # 7

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 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

TO REVERSE JE #45 (2021)

1110056000 HSBC OPERATING RMF 764321986 3,876.04

5305200104 DEBT INTEREST EXPENSE 1,906.25
5305200104 DEBT INTEREST EXPENSE 1,969.79
Total 3,876.04 3,876.04

Adjusting Journal Entries JE # 8

TO CORRECT DEPRECIATION EXPENSE AND A/D FOR AUTO
TRANSPORTATION
1592350100 ACCUMULATED DEPRECIA 20,776.00
5160350100 TRANSPORT EQUIPMENT 20,776.00
Total 20,776.00 20,776.00

Adjusting Journal Entries JE # 9

TO ADJUST SALES TAX BALANCES FOR STATES (NY, CA, IA, AR,
NV, WV, SD)
2408050500 SALES TAX PAYABLE-NEW YORK 109.65
2408050502 SALES TAX PAYABLE-CALIFORNIA 14,253.48
2408050504 SALES TAX PAYABLE-OIWA 7% 871.50
2408050506 SALES TAX PAYABLE- ARKANSAS 10% 4,658.50
2408050507 SALES TAX PAYABLE- NEVADA 8.25% 21.45
2408050509 SALES TAX PAYABLE- WEST VIRGINIA 470.76
2408050514 SALE TAX PAYABLE - DAKOTA DEL SUR 697.13
4120350151 TICKETS ROLLS 21.45
4120350151 TICKETS ROLLS 470.76
4120350151 TICKETS ROLLS 697.13
4120350151 TICKETS ROLLS 871.50
4120350151 TICKETS ROLLS 4,658.50
5115150151 SALES TAXES 109.65
5115150151 SALES TAXES 14,253.48
Total 21,082.47 21,082.47

Adjusting Journal Entries JE # 10

TO RECLASSIFY CHUBB SERVICES INSURANCE FOR PERIOD
08/14/2021 - 06/14/2022
7330950151 PROPERTY & LIABILITY INSURANCE 25,614.00
1705200100 PREPAID PROPERTY INSURANCE 25,614.00
Total 25,614.00 25,614.00

Adjusting Journal Entries JE # 11

TO RECLASSIFY CINCINNATI INSURANCE

5130950151 PROPERTY & LIABILITY INSURANCE 11,663.00

1705200100 PREPAID PROPERTY INSURANCE 11,663.00
Total 11,663.00 11,663.00

Adjusting Journal Entries JE # 12

TO RECLASS PREPAID CHUBB INSURANCE FOR PERIOD
06/14/2022-06/14/2023
1705200100 PREPAID PROPERTY INSURANCE 28,674.08
1705400100 PREPAID SERVICES 28,674.08
Total 28,674.08 28,674.08

Adjusting Journal Entries JE # 13

2 of 7
 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

TO ADJUST REAL ESTATE TAXES PREPAID BALANCE FOR

VILLAGE OF LANCASTER
5115150100 PROPERTY TAXES 558.56
1705950152 PREPAID REAL ESTATE TAXES 558.56
Total 558.56 558.56

Adjusting Journal Entries JE # 14

TO ADJUST REAL ESTATE TAXES PREPAID BALANCE FOR DIANE
M TERRANOVA
7315150100 PROPERTY TAXES 1,071.00
7315150100 PROPERTY TAXES 1,071.01
7315150100 PROPERTY TAXES 1,071.01
1705950152 PREPAID REAL ESTATE TAXES 3,213.02
Total 3,213.02 3,213.02

Adjusting Journal Entries JE # 15

TO RECLASS PAYMENT FROM CAMERON DEVELOPMENT TO
PAY LOAN FROM 12/19/2020.
1380209000 ACCOUNTS RECEIVABLE OTHER 80,000.00
1310100100 ACCOUNTS RECEIVABLE RELATED PARTY 80,000.00
Total 80,000.00 80,000.00

Adjusting Journal Entries JE # 16

TO W/O OUTSTANDING BILLS FOR PAYCHEX AND CINCINNATI
INSURANCE
2205010100 RAW MATERIALS ACCOUNTS PAYABLE 786.28
2205010100 RAW MATERIALS ACCOUNTS PAYABLE 1,478.00
5110950151 OTHER PROFESSIONAL FEES 786.28
5130950151 PROPERTY & LIABILITY INSURANCE 1,478.00
Total 2,264.28 2,264.28

Adjusting Journal Entries JE # 17

TO RECLASS REFUND FROM COMMONWEALTH OF MASS

5115150151 SALES TAXES 491.00

2615050100 ACCRUED INCOME TAXES 491.00
Total 491.00 491.00

Adjusting Journal Entries JE # 18

TO W/O OUTSTANDING BILLS FROM SEPTIC SERVICES INC

2205010101 ACCOUNTS PAYABLES OTHER 115.20

2205010101 ACCOUNTS PAYABLES OTHER 337.50
7345150100 MACHINERY AND EQUIPMENT MAINTENAN 452.70
Total 452.70 452.70

Adjusting Journal Entries JE # 19

TO RECLASSIFY VENDOR ADVANCES

2370950152 GUARDIANSUP DIS INSURANCE 30.01

2370950152 GUARDIANSUP DIS INSURANCE 40.67
2370950153 DENTAL-GUARDIAN ACCOUNTS 344.79
7205450153 LIFE INSURANCE 221.29
7205450153 LIFE INSURANCE 254.44
7205450153 LIFE INSURANCE 1,876.23

3 of 7
 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

1330950100 OTHER ADVANCES 415.47

1330950100 OTHER ADVANCES 2,351.96
Total 2,767.43 2,767.43

Adjusting Journal Entries JE # 20

TO RECLASS PRO FLEX ADDITIONAL DEPOSIT 5%

1335350100 DEPOSITS - PROFLEX HRA/FSA 1,986.59

1330050100 VENDOR ADVANCE 1,986.59
Total 1,986.59 1,986.59

Adjusting Journal Entries JE # 21

TO RECORD TRANSACTION THAT CLEARED THE BANK IN
DECEMBER NOT POSTED TO SAP
1110056000 HSBC OPERATING RMF 764321986 21.90
2370450103 FLEXIBLE SPENDING 324.17
1110056000 HSBC OPERATING RMF 764321986 324.17
5195200100 ENTERTAINMENT 21.90
Total 346.07 346.07

Adjusting Journal Entries JE # 22

TO RECLASS TO SALES C&C STONE IMPORTS INC

1380209000 ACCOUNTS RECEIVABLE OTHER 455.00

1380209000 ACCOUNTS RECEIVABLE OTHER 455.00
4205050101 WASTE SALES 910.00
Total 910.00 910.00

Adjusting Journal Entries JE # 23

TO RECORD ACCRUED INTEREST FOR LOAN TO CAMERON
DEVELOPMENT INC $180k
1310100100 ACCOUNTS RECEIVABLE RELATED PARTY 3,694.21
4210050102 INTEREST INCOME 3,694.21
Total 3,694.21 3,694.21

Adjusting Journal Entries JE # 24

TO RECORD ACCRUED INTEREST FOR LOAN TO CAMERON
DEVELOPMENT INC 200k
1310100100 ACCOUNTS RECEIVABLE RELATED PARTY 4,091.01
4210050102 INTEREST INCOME 4,091.01
Total 4,091.01 4,091.01

Adjusting Journal Entries JE # 26

TO ADJUST GM FINANCIAL LOAN INTEREST AND LONG TERM
BALANCE
5305200104 DEBT INTEREST EXPENSE 693.16
2105100200 LONG TERM DEBT 693.16
Total 693.16 693.16

Adjusting Journal Entries JE # 27

TO REVERSE JE #29

2105100100 SHORT TERM FINANCIAL DEBT 4,166.66

5305200104 DEBT INTEREST EXPENSE 4,166.66
Total 4,166.66 4,166.66

4 of 7
 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

Adjusting Journal Entries JE # 28

TO ADJUST ACCOUNT BALANCE

2335600100 TRAVEL EXPENSES 60.00

5155950100 OTHER TRAVEL AND ENTE 60.00
Total 60.00 60.00

Adjusting Journal Entries JE # 29

TO REVERSE BANK CHARGE

1110056000 HSBC OPERATING RMF 764321986 43.72

5305050151 BANK CHARGES 43.72
Total 43.72 43.72

Adjusting Journal Entries JE # 30

TO RECLASSIFY DEPOSITS FROM CASCADES RECOVERY US

2805050101 ADVANCE FOR CUSTOMER EEUU 1,309.98

2805050101 ADVANCE FOR CUSTOMER EEUU 1,643.20
4205050101 WASTE SALES 2,953.18
Total 2,953.18 2,953.18

Adjusting Journal Entries JE # 31

TO RECLASSIFY DEPOSITS FROM BUSINESS ASSET

2805050101 ADVANCE FOR CUSTOMER EEUU 80.00

4205050101 WASTE SALES 80.00
Total 80.00 80.00

Adjusting Journal Entries JE # 32

TO ACCRUE INTEREST EXPENSE FOR LOAN #200 (STATEMENT
DATE 12.22.2022)
5305200104 DEBT INTEREST EXPENSE 5,757.22
2605950952 ACCRUED EXPENSES 5,757.22
Total 5,757.22 5,757.22

Adjusting Journal Entries JE # 33

TO ADJUST THE HARTFORD PREPAID INSURANCE

1705950100 OTHER PREPAIDS 204.92

5130400100 TRANSPORT INSURANCE 204.92
Total 204.92 204.92

Adjusting Journal Entries JE # 34

TO ZERO OUT LONG TERM DEBT LOAN #209

2105100253 EQUIPMENT LINE OF CREDIT LONG TERM 0.23

5305200104 DEBT INTEREST EXPENSE 0.23
Total 0.23 0.23

Adjusting Journal Entries JE # 35

TO ADJUST PREPAID INCOME TAXES FEDERAL & STATE

7365150122 LICENSES 663.00

5 of 7
 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

7365150122 LICENSES 1,113.00

2615050100 ACCRUED INCOME TAXES 1,702.47
4210050102 INTEREST INCOME 73.53
Total 1,776.00 1,776.00

Adjusting Journal Entries JE # 36

TO RECORD ACCRUED INTEREST FOR LOAN TO THOMAS GREG
& SONS LLC 30k
1310100100 ACCOUNTS RECEIVABLE RELATED PARTY 200.50
4210050102 INTEREST INCOME 200.50
Total 200.50 200.50

Adjusting Journal Entries JE # 38

TO ADJUST ACCOUNT GUARDIAN DISTRIBUTION INSURANCE
AND VESPLIFE INSURANCE WITHHOLDING, DENTAL GUARDIAN,
2370450103 FLEXIBLE SPENDING 803.45
2370950152 GUARDIANSUP DIS INSURANCE 1,922.28
2370950153 DENTAL-GUARDIAN ACCOUNTS 2,592.14
2370950151 VESPLIFE INSURANCE WITHHOLDING
5105450152 HEALTH INSURANCE 803.45
7205450151 DENTAL INSURANCE 2,592.14
7305450153 LIFE INSURANCE
7305450154 DISABILITY INSURANCE 1,922.28
Total 5,317.87 5,317.87

Adjusting Journal Entries JE # 39

TO RECLASSIFY PORTION OF LINE OF CREDIT

2105100100 SHORT TERM FINANCIAL DEBT 250,000.00

2105100151 LINE OF CREDIT SHORT TERM 250,000.00
Total 250,000.00 250,000.00

Adjusting Journal Entries JE # 40

TO ADJUST ACCRUED PTO

5105480101 SALARIES-BONUS 8,706.79

2605950954 ACCRUED PTO/VACA 8,706.79
Total 8,706.79 8,706.79

Adjusting Journal Entries JE # 41

TO ADJUST HEALTH INSURANCE PAYABLE

5105450152 HEALTH INSURANCE 1,622.64

2370950159 HEALTH INSURANCE 1,622.64
Total 1,622.64 1,622.64

Adjusting Journal Entries JE # 42

TO ADJUST VESPLIFE INSURANCE WITHHOLDING

2370950151 VESPLIFE INSURANCE WITHHOLDING 21.00

5105450153 LIFE INSURANCE 21.00
Total 21.00 21.00

Adjusting Journal Entries JE # 43

6 of 7
 3/22/2023
7:10 PM

Client: 2252R - RMF Printing Technologies, Inc

Engagement: RV-2022 - RMF Printing Technologies, Inc
Period Ending: 12/31/2022
Trial Balance: TB
Workpaper: 3700.01 - Adjusting Journal Entries Report

Account Description W/P Ref Debit Credit

TO ADJUST EE DEFERRAL PAYABLE

2380300100 401K EMPLOYEE PENSION 25.28

7205060100 SALARIES 25.28
Total 25.28 25.28

Adjusting Journal Entries JE # 44

TO RECORD FEDERAL AND STATE INCOME TAX

5395200100 PENALTIES/ LATE FEES 23.00

5395200100 PENALTIES/ LATE FEES 423.00
5405050100 TAXES 85,418.00
5405051100 STATE TAXES 175.00
5405051100 STATE TAXES 208.00
5405051100 STATE TAXES 800.00
5405051100 STATE TAXES 853.00
5405051100 STATE TAXES 4,169.00
5405051100 STATE TAXES 11,770.00
2615050100 ACCRUED INCOME TAXES 103,839.00
Total 103,839.00 103,839.00

Adjusting Journal Entries JE # 45

TO RECORD DEFERRED TAX ASSET UTILIZATION

2710959900 DEFERRED TAX LIABILITY 32,794.00

5405055100 DEFERRED TAXES 32,794.00
Total 32,794.00 32,794.00

Adjusting Journal Entries JE # 46

TO RECLASSIFY PREPAID INCOME TAXES FEDERAL AND STATE

1705950153 PREPAID INCOME TAXES 23,777.00

2615050100 ACCRUED INCOME TAXES 23,777.00
Total 23,777.00 23,777.00

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